QRG Capital Management Inc. Raises Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

QRG Capital Management Inc. increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 145,384 shares of the company’s stock after buying an additional 4,424 shares during the quarter. QRG Capital Management Inc.’s holdings in American Electric Power were worth $13,409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. XML Financial LLC grew its position in American Electric Power by 3.8% during the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after acquiring an additional 106 shares during the last quarter. PSI Advisors LLC grew its position in American Electric Power by 10.6% during the fourth quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after acquiring an additional 107 shares during the last quarter. Garrison Asset Management LLC boosted its stake in shares of American Electric Power by 0.6% during the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after purchasing an additional 109 shares during the period. Roanoke Asset Management Corp NY boosted its stake in shares of American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after purchasing an additional 110 shares during the period. Finally, Folger Nolan Fleming Douglas Capital Management Inc. boosted its stake in shares of American Electric Power by 3.7% during the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company’s stock valued at $286,000 after purchasing an additional 112 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

AEP opened at $105.16 on Friday. The stock has a fifty day simple moving average of $97.71 and a two-hundred day simple moving average of $98.31. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The company has a market cap of $56.07 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $107.84.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period in the prior year, the business earned $1.23 earnings per share. Research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $0.93 dividend. The ex-dividend date is Monday, February 10th. This represents a $3.72 dividend on an annualized basis and a yield of 3.54%. American Electric Power’s dividend payout ratio (DPR) is 66.43%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BMO Capital Markets dropped their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Bank of America raised American Electric Power from an “underperform” rating to a “buy” rating and increased their price objective for the company from $98.00 to $104.00 in a research note on Monday, January 13th. Evercore ISI dropped their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Finally, Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.46.

American Electric Power Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.